Young buyers fuelling higher house prices
-
Loading... - Adela Chvatal
- 20 Oct 2022
- 80 Views
- 0 Like
- 0 Comment
The real estate market is showing remarkable resilience as Belgium hits hard times and interest rates are rising. During the third quarter of the year transactions were down 1.5% but that is far less than most observers anticipated says Bart van Opstal of the Federation of Notaries.
The market was gripped by a slight hesitation when Russia further invaded Ukraine in March. In July there was even a 7.4% dip in the number of transactions compared with a year ago, but the market rebounded in following months. “The number of transactions is higher in recent months than last year before anybody heard of the energy crisis or the war in Ukraine” says Van Opstal.
On average a house in Flanders will now set you back 353,226 euros. That’s nearly 10% up on the year. Average flat prices rose 4% to 270,153 euros. Prices firmed markedly during the summer. “Demand for real estate is high, even higher than pre-pandemic” says Van Opstal. Read More...
